December 2007 Vol 4 MESSAGE FROM ROBERT HAMRICK SELLING AT CITYCENTER CONSTRUCTION PROGRESS CITYCENTER IN THE NEWS OWNER EVENTS I hope this installation of the CityCenter broker newsletter finds you and yours well, enjoying the holiday season. Here at CityCenter, we are wrapping up a phenomenal year. Construction and sales at CityCenter are proceeding on pace. With over $1.5 billion in sales and over half of all available residences contracted, we have established ourselves as the only choice for luxury high-rise living in Las Vegas. We will continue this momentum into the New Year by growing our relationship with our new partner, Dubai World. We are pleased you have chosen to be a part of this exciting project and appreciate the continued support of the real estate community. I hope I see you soon at one of our upcoming Preferred Agent Appreciation events. To learn more about becoming a Preferred Agent at CityCenter, please call 866.705.7111 or visit citycenter.com. Sincerely, Robert Hamrick Senior Vice President and Broker CityCenter Realty Corporation [email protected] SELLING AT CITYCENTER What is the secret to success in selling at CityCenter? According to Shayna Goldstein of Legend Realty, there is no secret, it is simple networking. Having sold 52 residences at CityCenter herself, she explains, "lean on the relationships and networks I have in place in California, Chicago, New York, Miami, and abroad to find the buyers that understand this market. These buyers appreciate the ground-floor opportunity." It's not just about the clients you have, it is also about the product you are selling. Shayna is quick to acknowledge, "The magnitude of CityCenter differentiates it from every other project in North America, not only Las Vegas. Clearly, this project is at the forefront of development masterpieces for several reasons: location, architecture, quality, and construction schedule. This product has so many unique amenities and elicits so much emotion with prospective purchasers that it often times sells itself." Shayna Goldstein, Legend Realty CITYCENTER CONSTRUCTION UPDATE Construction at CityCenter advances on schedule. The site, with 16 cranes and around-the-clock activity, has become a dominant feature of the Las Vegas Strip. Most excitingly, as individual buildings take shape, the community itself emerges with an essential coherence of vision and design that has been a touchstone from the start. Read development highlights below and click here for the latest views of the construction site. z Veer Towers, The Harmon, Mandarin Oriental and the retail and entertainment district are coming together as a true neighborhood, presaging the contemporary urban cityscape to come. z The Vdara Condo Hotel, at level 34, is rising quickly. The spacious lobby with its vibrant central lounge and water feature is taking shape. Artists' renderings of Vdara's stylish interior spaces are coming soon. z Installation has begun on Mandarin Oriental's exterior curtain wall, sheathing the structure, now up to level 19, in a dynamic interplay of glass, metal and light. Once this "skin" is installed, we will begin finishing out the building's interiors. z The Harmon Hotel, Spa & Residences is coming out of the ground. With its slender, rounded footprint and prime location just steps off Las Vegas Boulevard, this tower will command The Strip like nothing else. z The structural steel for Daniel Libeskind's retail and entertainment district is rising quickly. Although a skeleton, you can easily read the crystalline shapes that will house one of the world's finest collections of shops and restaurants with twisting, tilting exterior walls clad in shimmering panels of stainless steel. CITYCENTER IN THE NEWS CityCenter's vision has been recognized by world-wide leaders in hospitality. In a recent interview, Jim Murren, President and COO of MGM MIRAGE, affirmed that CityCenter "has to be in the top five of development projects in the world right now....Anyone that's involved in hospitality worldwide, whether it's in the Middle East, Asia, Europe or North America knows about CityCenter. They're intrigued about its urban planning. They're captivated by the roster of architects that we've hired and they're very impressed by the ambition of it." z MGM MIRAGE and Dubai World announced that they have completed their previously announced 50/50 joint venture transaction in the landmark CityCenter development in Las Vegas. His Excellency Sultan Ahmed Bin Sulayem, Chairman of Dubai World, said, "Our company is most pleased to be a part of what we consider to be one of the most exciting private sector developments in modern history. CityCenter is the most ambitious real estate project ever undertaken in Las Vegas and rivals any similar project around the world. Its global significance cannot be underestimated. z The Harmon Hotel, Spa & Residences has been awarded membership in The Leading Hotels of the World®, recognition based not only upon the strength of its premiere Strip address, but also services, finishes and amenities that are notably exceptional, even among this rarefied set of luxury boutique hotels. OWNERS CONNECT Owner events are our opportunity to thank owners for choosing CityCenter and an opportunity to share the exceptional experiences they enjoy as an owner at CityCenter with friends. Events are hosted regionally and in Las Vegas. Del Mar's Pamplemousse Hosts Pamplemousse, Zagat's top-rated San Diego restaurant for the fourth year, was the site of an owner appreciation dinner co-hosted by Pamplemousse's Chef Jeffrey Strauss is joined by owners, Bill Strauss and Chef Jeffery Strauss, brothers and neighbors at CityCenter Marketing Managers Vdara Condo Hotel and The Residences at Mandarin Oriental. Their friends, Julia Williams and Randi Kolesar other owners in the San Diego area and CityCenter and MGM MIRAGE and Robert Bigelow, Master Sommelier and Director of Wine for executives joined them. It was an exceptional evening of fine food and fine Bellagio. wines with the additional highlight of a presentation by Terry Lanni, Chairman and CEO of MGM MIRAGE and owner at Mandarin Oriental. Chihuly at CityCenter Owners and their guests attended a cocktail reception at the Residential Sales Pavilion in Las Vegas celebrating the creative relationship between renowned artist Dale Chihuly and CityCenter. Guests had the opportunity to meet the artist, preview a selection of Chihuly's work and explore the opportunity to bring a Chihuly artwork into their CityCenter residence. The Pavilion, which showcased an exceptional collection of the artist's works for the event, provided an intimate, gallery-like setting for Mr. Chihuly's presentation and question and answer session. Attendees received a signed copy of CHIHULY at CITYCENTER, a visual exploration of the artist's past work. Dale Chihuly and his exquisite glass display. Obtain the Property Report required by Federal law and read it before signing anything. No Federal agency has judged the merits or value, if any, of this property. No statement should be relied upon except as expressly set forth in the Property Report or the Nevada Public Offering Statement. This is neither an offer to sell, nor a solicitation of offers to buy, any condominium units in those states where such offers or solicitations cannot be made. WARNING: THE CALIFORNIA DEPARTMENT OF REAL ESTATE HAS NOT INSPECTED, EXAMINED, OR QUALIFIED THIS OFFERING. This condominium project does not discriminate on the basis of race, color, religion, national origin, sex, disability or familial status. This advertisement is not an offering. No offering can be made until an offering plan is filed with the Department of Law of the State of New York. This advertisement is made pursuant to Cooperative Policy Statement No. 1 issued by the New York State Attorney General. Application to Test the Market not filed with the Department of Law of the State of New York for The Residences at Mandarin Oriental, Las Vegas or The Harmon Residences. Vdara Condo Hotel, 2600 West Harmon Ave., File No. CP06-0259, Sponsor: CityCenter Vdara Development, LLC; Veer Towers, 3722 and 3726 Las Vegas Blvd. South, File No. CP06-0260, Sponsor: CityCenter Veer Towers Development, LLC. All projects are located in Las Vegas, NV 89109; all Sponsors are located at 3780 Las Vegas Blvd. South, Las Vegas, NV 89109. Scenes and improvements are not within the project, are proposed, artist's renderings only and NEED NOT BE BUILT. Prices are estimates only. Plans, architectural renderings, specifications, pricing, square footage and locations are subject to change without notice. © 2007 Project CC, LLC. Unauthorized use of the images, artist renderings, plans or other depictions of the project is strictly prohibited. .